That puts it some way behind Ethereum at $308 billion and a long, long way behind Bitcoin at $760 billion - but given that it was below $6 billion as recently as January, it's still made seriously impressive progress this year. In terms of market capitalization, Binance Coin is currently valued at around $58 billion. governmental agencies are investigating Binance could make some prospective investors wary of jumping in. It has been mostly onward and upward so far in 2021, although the recent report that U.S. Meanwhile, Binance’s quarterly burn seems to light a fire under the price of the coin, rewarding those who hold BNB. Anyone who bought into BNB earlier this year or even beforehand has seen some of the most impressive gains of any cryptocurrency so far this year, save for wild cards such as Dogecoin and Shiba Inu.īinance continues to grow as an exchange due to increased mainstream interest in crypto, plus its Binance Smart Chain is drawing in more and more developers - and thus, more and more users. This is part of a market-wide slump that has taken place the last few days, and top coins like Ethereum and Bitcoin are also well off their peak prices.Įven so, Binance Coin has seen incredible growth so far in 2021, jumping from a price of about $38 on January 1 to where it sits today. Binance Coin price history and market capĪs of this writing, Binance Coin is available for $343 per coin, a decline of 50% from the all-time high of $690 set earlier in May 2021. Users can also “stake” their coins within a Binance wallet to earn rewards in the form of additional BNB. Now at the heart of all of Binance’s initiatives, BNB can be used on the exchange to swap for other cryptocurrencies and pay transaction fees, used for decentralized apps (dapps) that run on the firm’s growing Binance Smart Chain, and even spent at some external websites that support crypto payments via BNB. It's skyrocketed in value in 2021, thanks in part to Binance’s own rising popularity and the wider crypto market growth and also due to Binance’s aggressive coin “burning” schedule. However, as Binance’s ambitions grew, the firm relaunched BNB as a coin running on its own Binance Chain blockchain, and allowed users to swap their old coins for new ones. It's huge.īinance Coin - or BNB - was established in 2017 as an Ethereum-based token, both to give users the option to save on fees and to help fund Binance’s expansion. The world’s largest cryptocurrency exchange based on market cap, Binance typically moves about three times the amount of crypto as the next-leading platform on a daily basis. In order to understand Binance Coin you first need to know about Binance. agencies regarding potential money laundering and tax evasion concerns.
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